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Press Release

GEG acquires Fashion Mall Munich

Frankfurt, 01.07.2019

  • In the first half of 2019, GEG has already generated a purchasing volume of around EUR 765 million

GEG German Estate Group AG, Frankfurt/Main, has now purchased both building components of the Fashion Mall Munich in Parkstadt Schwabing, within the scope of an off-market transaction. The fully let property has a total rental space of approx. 17,000 sqm and ca. 340 parking spaces. Total investment volume amounts to approximately €90 million.

With its established user concept as a fashion and order centre for B2B clients, the Fashion Mall Munich benefits from a stable and diversified rental situation. A total of 31 tenants from the fashion industry present their clients with next season’s fashion collections in two separate buildings. Fashion Mall Bronce, the smaller of the two properties with 6,000 sqm space, attends to clients from the premium segment (16 brands), whilst Fashion Mall Titan’s approximately 11,000 sqm houses 15 tenants from the trend segment. Tenants in the mall as a whole include renowned brand names such as Max Mara, Marc Cain, Sportalm, Palmers or Esprit.

The two buildings were erected in 2007 and 2008 to an unusually high building standard, and offering excellent equipment quality. Both feature modern and flexible rental space, and the central location of Parkstadt Schwabing provides an optimal infrastructure connection to all hubs and important locations in Munich, i.e. the city centre, main station or airport.

Ulrich Höller, chairman of GEG’s Supervisory Board, said: “This means that GEG has already achieved a purchasing volume of around EUR 765 million in the first six months of 2019. GEG is continuing its growth course and its success story of the last few years unchanged.”

In this transaction, the buyer was advised by White&Case (legal and tax); the seller was advised by Clifford Chance (legal). JLL brokered the transaction.


About GEG German Estate Group AG:
Based in Frankfurt/Main, GEG German Estate Group AG maintains one of the leading German investment and asset management platforms for commercial real estate. Its investment focus and policy are concentrated on three segments: Institutional Business, Opportunistic Investments, and Project Development. Since its establishment in 2015, and within the framework of this clearly-defined strategy, GEG has consistently pursued opportunities to build an extensive and diversified real estate portfolio, comprising some €3.8 billion in assets under management, distributed over the whole of Germany.

This portfolio includes several high-rise buildings in Frankfurt (IBC Campus, luxury hotel Villa Kennedy, Japan Center, Global Tower, RIVERPARK Tower, the Sapporobogen and the “Junges Quartier Obersendling” site in Munich as well as the recently acquired Pressehaus on Alexanderplatz in Berlin.

The long-standing track record and outstanding reputation of senior management, together with a highly qualified and experienced team, provide the foundation for a leading market position.

More detailed information about GEG is available on www.geg.de.


GEG press contact
:
Haussmann Pfaff Kommunikation
Höchlstrasse 2
81675 Munich, Germany
Mobile: +49 172 8312923
Phone: +49 89 992496-50



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Höchlstraße 2
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Fax
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